Tasmanian Times

The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. No price is too high for the privilege of owning yourself. ~ Friedrich Nietzsche

The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. No price is too high for the privilege of owning yourself. ~ Friedrich Nietzsche

Economy

Gunns down …

Market Talk MarketTalk@dowjones.com

GNS down 5 cents to $0.635
0423 GMT, Friday [Dow Jones] Gunns (GNS.AU) slips 5.8% to fresh 8-year low of 64.5 cents after reporting 1H net profit almost doubled on year to A$33.6 million, above a preview forecast by ABN AMRO Morgans of A$30.0 million. On surface, Gunns’ report looks upbeat, with sharp cut in debt, which was known, and indication JV, terms for Bell Bay pulp mill are imminent. But investors overlooking this, instead likely focusing on immediate softening commodity outlook, expected 15% cut in woodchip sales. ABN AMRO Morgans said before result risks to trading outlook, such as sharply deteriorating woodchip outlook, in part on back of sharply slowing Japanese economy, likely will overshadow Gunns in near term “and that downgrade cycle may still have some way to run.” (RCB)

Gunns Share Price is permanently linked: Above
And, Google finance graph: Here

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1 Comment

1 Comment

  1. Chris Harries

    February 28, 2009 at 11:38 am

    Talking of the global market, this article spells out how serious the global meltdown is: http://www.alternet.org/workplace/128412/?page=entire

    Fascinating that if all this had happened back in 1985 there were no end of socialist groups celebrating and declaring victory over the collapse of capitalism.

    It was not to be. The collapse of the Soviet Union and the dogma f a globalised market swept all that aside, absorbing in its wake even marginally left political groupings like the Australian Labor Party.

    This is the scene in which we are now all immersed, including the likes of Gunns.

    Gunns’ bravado, in the face of these odds, reminds me of that famous Monty Python character who, having had his limbs hacked off one by one, kept on spoiling for a fight. A severed head with no defences left, the epitome of vacuous bravado.

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